Bharti Infratels Rs 4500cr IPO oversubscribed 1.30 times

By

The Rs 4,500 crore IPO of Bharti Infratel, a subsidiary of country's largest telecom operator Bharti Airtel, has oversubscribed 1.30 times on Friday (final day), as per data available on National Stock Exchange.

Bharti Infratel's Rs 4500cr IPO oversubscribed 1.30 times

The Rs 4,500 crore IPO of Bharti Infratel, a subsidiary of country's largest telecom operator Bharti Airtel, has oversubscribed 1.30 times on Friday (final day), as per data available on National Stock Exchange.

Like this story, share it with millions of investors on M3

Bharti Infratels Rs 4500cr IPO oversubscribed 1.30 times

The Rs 4,500 crore IPO of Bharti Infratel, a subsidiary of country's largest telecom operator Bharti Airtel, has oversubscribed 1.30 times on Friday (final day), as per data available on National Stock Exchange.

Post Your Comments

The Rs 4,500 crore IPO of Bharti Infratel, a subsidiary of country's largest telecom operator Bharti Airtel is oversubscribed 1.30 times on Friday (final day), as per data available on National Stock Exchange.

The 16.05 crore (excluding anchor portion) equity shares' IPO has received bids for 20.85 crore shares while total bids at cut-off price were more than 95.38 lakh shares.

A tower infrastructure company IPO has received good response from qualified institutional buyers(QIBs) whereas the response was completely muted from non-institutional and retail investors.

The reserved portion of QIBs, which closed yesterday, was oversubscribed 2.84 times while non-institutional and retail investors' portion subscribed just 29 percent and 19 percent, respectively.

The 18.89 crore shares' IPO that opened for subscription on December 11 comprised a fresh issue of over 14.62 crore equity shares and an offer for sale of over 4.26 crore shares by Goldman Sachs, Anadale, Nomura and Compassvale / Temasek.

Retail investors will get shares at a discount of Rs 10 to the final issue price.

On Monday, the company had received Rs 651.7 crore by allocating 2.83 crore shares at Rs 230 a share to 18 anchor investors. The issue price was at Rs 210-240 per share.

The company that has a pan India presence with operations in all 22 telecommunications circles intends to use issue proceeds for installation of 4,813 new towers; upgradation & replacement on existing towers; and green initiatives at tower sites.

The equity shares are proposed to be listed on the Bombay Stock Exchange and National Stock Exchange.